CANSTAR announces Innovation Excellence award winners

The proof that innovation is alive
and well in the land of the long white cloud is right here,
as CANSTAR announces the winners for this year’s
Innovation Excellence Awards, showcasing those businesses in
the financial sector that are leading the way with
innovative ideas and products that have the potential to
change the lives of everyday New Zealanders.

Submissions
were received from many companies covering a variety of
products released in the last 12 months, and after digesting
all the information and examining all the qualities of each
development, the CANSTAR team ended up with four outstanding
products from the banking industry that show true
innovation.

CANSTAR
research Manager Mitchell Watson explained that the team
thoroughly enjoyed sifting through the submissions and felt
there were some very interesting ideas and
concepts.

“Innovation is a hard concept to define, and
different people can have different ideas about what makes a
particular product or scheme really stand out, but in the
end it comes down to the “wow” factor.

“We ask of
each submission, what is different about it? Is it going to
have an impact on people’s lives? What is the reach of the
innovation? And is it affordable?

“This year, as every
year, we were impressed."

CANSTAR INNOVATION
EXCELLENCE AWARD WINNERS 2014

(in alphabetical
order)

ASB’s Rural Environmental Compliance
Loan

A special loan designed to provide a
low-cost funding option to assist farmers looking to upgrade
their environmental compliance systems. The project has not
been designed to financially benefit ASB and as a result the
loan is competitively priced – funding is provided at an
interest rate of 3.8%* on loans of up to $200,000. A
positive innovation both for the New Zealand farming
community and the environment. * Rates are subject to
change

BNZ PayClip

A mobile payment
solution that enables small businesses to accept MasterCard
and Visa debit and credit card payments on the spot using
their smartphone or tablet without having to manually enter
data – effectively turning a handheld device into a
portable till. Businesses can manage their cashflow better,
as payments are made straight into the BNZ account, so they
can access payments as early as the next
day.

Kiwibank Home Hunter app

A mobile
app that enables anyone to find their perfect property, get
the estimated sale price and apply for a pre-approval
in minutes from their smartphone or tablet. Additional
elements of the app include a Sun Finder tool, which helps
you learn how much sun a property gets at different times of
the year (by pointing your phone camera at the sky) and the
Around Me tool, which tells you which homes are also for
sale in the locale.

Westpac’s
Symphony

A dynamic banking and communications
framework and platform that comprises an almost real-time
decision engine driving an omni-channel customer experience
across all banking channels, including ATMs, emails, SMS,
direct mail, mobile banking, etc. All interactions with the
bank are recorded on a customer’s individual
“dashboard”, enabling staff to be kept completely up to
date with a customer’s interactions and
dealings.

CANSTAR would like to congratulate this
year’s Innovation Excellence Award winners for their
impressive efforts and exciting, innovative
products.

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